What does a “charge-off” mean?

If you have faced a “charge-off” from the credit card company don’t take it lightly. A “charge-off” notice is issued by the bank or the credit card firm when they understand that the debtor is unable to pay the debts and appoints a collection agency for the collection of debt. These collection agents can become aggressive at times in their process of collecting the debt amount. Also, a “charge-off” reflects very badly on your credit score that will bar you from any further borrowing. Credit card debt and “charge-offs” can be handled by an expert bankruptcy lawyer who will assist you to negotiate with the creditors and settle the debt.

Best attorneys at your service for effective debt settlement

In a similar situation, you must consult the best lawyers in your area seeking legal help to handle the situation. Boss Law is a reputable law firm with multiple offices in Central Florida with over a decade of experience in providing top class legal services to its clients. The firm appoints the best bankruptcy lawyers at your service at nominal consultancy fee. The debt collector can take extreme measures to recover the amount and you may have to confront him. This can be stressful and you need proper legal guidance to face the same. Also, the charge-off offers a convenient time to negotiate with the debt collector. So, it is best advised to not wasting any time and hiring the best bankruptcy attorneys st petersburg fl for a negotiation with the debt collector or the creditor to settle for a payable amount of money. This way, you can get rid of the debt burden or reduce it to a favorable amount in a legal way. Many people think that a “charge-off” means his debt is cancelled by the creditor. But, actually, it makes a very wrong impact on your credit reports. Also, the borrower is still liable to pay the debt amount even if he has been unable to pay the debts in last six months. The bankruptcy attorneys specializing in handling similar cases will assist you to settle for a reduced payment within a stipulated time. Also, this will help you to maintain a good credit score even after facing a “charge-off”.

Charges you may face and ways to avoid them

In case you don’t confront the debt collector or deny paying the debts, you may face dire consequences leading to freezing of your accounts and other extreme measures taken by the creditor. To avoid the same, you should hire the best st petersburg debt lawyer to help you get out of the situation through proper legal processes. The legal procedures are quite complex and lengthy so it is best to trust the best attorneys at practice to handle your case. The firm guarantees effective debt settlement and maximum reduction in debts so it can be easier for you to move ahead in life with dignity and financial stability.

Posted in: Law